AIB Course Code: 1000
Course Length: 16 weeks
Course Description:
Financial Accounting teaches students the information needed to create financial statements, including trial balances, t-accounts, balance sheets, and various other accounts and their respective functions. This course emphasizes current practices of accounting procedures and includes coverage of the latest principles set forth by the Financial Accounting Standards Board (FASB). Formerly called Accounting.
Audience:
Bank personnel requiring a fundamental knowledge of accounting.
Learning Objectives:
After successfully completing this program, you will be able to:
- Describe the content and purpose of the balance sheet and income statement
- Compare the basic characteristics of accrual basis and cash basis accounting
- Explain the full accounting cycle and prepare all required journals, entries, and adjustments
- Outline the necessity for and features of internal controls
- Identify the basic assumptions, principles, and modifying conventions of accounting
- Describe how inflation affects information
- Define partnerships and explain their characteristics
Textbook:
Financial Accounting, 9th edition, Houghton Mifflin, 2006
Course Credits: AIB: 3.0; ICB: 45 (CLBB or CTFA [FPI])
ACE College Credit Recommendation
In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting or Finance
Prerequisites:
Participants must be comfortable using Microsoft Excel. Students must have access to Microsoft Excel to complete the exercises in this course.
Required Software:
Microsoft Excel
Note: Given the level of difficulty of this course, it is recommended that you have already taken an online course. And, it is suggested that you not enroll in other courses while taking this one.
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